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News watch December 2010: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hourFriday 31 December 2010• A judge in Manhattan has dismissed two lawsuits from hedge funds claiming for $2bn losses when it bought VW shares in 2008. Elliott Associates LP, Black Diamond Offshore and 39 other funds filed a complaint, claiming Porsche misled short-sellers who hadn't realised that Porsche had cornered the market in VW shares (Automotive News)Thursday 30 December 2010• Volvo plans to hire an extra 200 staff as it claims demand for its cars is rising.

WRC Mini Concept (2010) first official pictures

While the Mini Countryman might be destined for suburban mumsville, BMW has confirmed the new model will also terrorise the countryside in the form of the WRC Mini from 2011, with IRC champ Kris Meeke at the wheel. Officially launched at the 2010 Paris motor show in concept guise, the WRC Mini will be engineered and run by motorsport doyen Dave Richards and his Prodrive outfit, although customer packages will be available too, allowing independents to compete in the car. Not so much – this is no time for misty-eyed Paddy Hopkirk odes.

Dune buggies on Father's Day horizon

IF YOUR dad's commute happens to cross pesky sand dunes that always leave his old Volkswagen stranded, fear not – he can turn the car into a dune buggy! Veloce Publishing has re-released the 'essential manual' for anyone wishing to turn a fatally corroded old Volkswagen (a classic Beetle is standard form) into a shiny new multi-purpose dune buggy that will laugh in the face of sandy stretches. According to the publishers, 'Building a Dune Buggy – The Essential Manual' is “the complete step by step practical guide to the equipment and building techniques needed to build a Buggy, as well as sound guidance on the choice of donor car and new components.